HMDA-reporting institutions spend considerable time in January and February of each year “scrubbing” HMDA data before the March 1 submission date. This webinar is designed to help institutions understand the common errors that continue to occur every year.
Errors can result from the failure to report a covered loan, reporting a loan that is not reportable, or miscoding data on reported loans. Regulators continue to report significant error rates for HMDA data. Penalties may be imposed for such errors.
This program reviews data collection and reporting rules, common problems that occur when collecting and reporting the HMDA data, and issues related to the public disclosure of the information.
What You’ll Learn
- Basic rules of HMDA and Regulation C
- Information needed to assure accurate reporting of HMDA data
- A thorough explanation of which institutions are covered by HMDA and Regulation C for the 2024 reporting cycle
- Which institutions are eligible for the EGRRCPA partial HMDA exemption and options for compliance available to those institutions
- A review of which loans are and are not reportable
- Detailed information on how to complete the LAR
- Clarification of the rules related to secondary market and broker transactions
- Detail on the data submission and public availability requirements
- Steps to identify and eliminate reporting errors and thereby avoid penalties
- Actions to take to prepare for submitting the data to the CFPB
Who Should Attend
The program is ideal for loan officers, compliance officers, loan processors, clerks, and auditors.